Mbabane: The Minister of Commerce Industry and Trade Manqoba Khumalo has urged the business community to support the Junior Achievement (JA) Angel Investor Program.
The minister was speaking during the launch of the Junior Achievement Angel Investor Network program which is aimed at finding investors for youth-owned businesses.
The Angel Investor Network Programme is aimed at coordinating equity support for young entrepreneurs from wealthy private investors also known as ‘angel investors’ to provide equity capital to entrepreneurs or start-ups. The launch has also been attended by business sector reps.
According to Investopedia, an angel investor also known as a private investor, a seed investor is a high-net-worth individual who provides financial backing for small startups or entrepreneurs, typically in exchange for ownership equity in the company. It also stated that an angel investor is a person who invests in a new or small business venture, providing capital for start-up or expansion.
The Minister of Commerce who was represented by the Minister of Sports, Culture and Youth Affairs Harries ‘Madze’ Bulunga urged all businesses to support this initiative in every possible way. He said each and every business partner should find a possible way of giving a helping hand to the youth of the country for a better tomorrow of the country.
Junior Achievement Chief Executive officer Phetsile Masilela said with this programme JA is opening a new page for young people to take a step further and grow. She said, in most cases, young people fail in business because of a lack of experience and expertise and they also lack sufficient financial investment.
UNFPA Head of Office Margaret Thwala-Tembe who was also present during the launch said the program was a potential game-changer for the challenges faced by young people. She said UNFPA-Eswatini remains committed to supporting the efforts of the Government to develop the greatest asset which is about 700 000 young EmaSwati.